1. Technical Field of the Invention
This invention pertains to invoice processing. More particularly, it relates to a system and method for capturing and rendering invoices viewable on the web.
2. Background Art
Historically, payments of invoices are triggered by a three way match: the invoice must match the purchase order (PO) terms and conditions, and the goods received must match those stated in quality and quantity against that PO. A problem occurs, particularly with respect to general procurement items, when such items are not tangible things which come through a receiving dock. In this case, it is difficult to do the three way match. For example, services may not flow through a dock. As a result, procurement systems have defined an “invoice not received” situation, which results in payment not being made until someone does something—and that initiates what is referred to as a paper chase.
Some procurement systems implement a “negative confirmation” process which results in payment of an invoice unless a requester submits a rejection. In this process, when an invoice is received, a notification is given to the requester alerting him to fact that the invoice will be paid unless requester sends back a notification that it should not be paid.
Invoices may be received via mail (paper invoices) or electronically (EDI, as IDOC invoices). In a negative confirmation system, it is important that invoice data be provided to a customer requester, and this has, in the case of paper invoices, resulted in the need to transfer paper copies, and in the case of electronic invoices, paper printouts or electronic summaries. In the case of paper copies, this involves the handling of large amounts of paper with the possibility of loss or delay adversely impacting the negative confirmation process, and in the case of electronic summaries providing information which may not be complete and sufficiently clear for quick human processing.
Another problem with negative authorization is that, while it may work fine for low cost things, for larger (more expensive) things, the risk that payment will be made before negative confirmation could be received may be too great.
It is an object of the invention to provide an improved system and method for processing invoices.
It is a further object of the invention to provide a system and method for processing invoices according to either a positive or negative approval process.
It is a further object of the invention to provide a system and method for processing both electronic and paper invoices by either a positive or negative approval process and with electronic capture and storage of all invoices for viewing by a customer approver.